Wednesday, 18 September 2013

On September 16 the U.S. Trustee Ralph Janvey filed with the Court of
Dallas the second list of scheduled payments under the Plan of
Distribution which includes about a thousand affected and a total of $
3.86 million.

The Receiver will start the process of
issuing checks within 10 days of its registration with the Court . Other
payments will be scheduled and submitted to the court in the order in
which received and processed Certification Forms .

The
document with the list of beneficiaries , by number of claims, this
second distribution can be found at the following official links :

Apparently
the checks are issued on behalf of the account holders appearing on the
certification form . If you think your paycheck deposited into your
bank in the U.S. typically require all owners are on the same account ,
please confirm this to avoid wasting time.

Those people in Venezuela do not have a bank account in the United States may contact Banesco to apply to open a dollar account in Panama or Banesco Banesco USA . In Banesco offices in Caracas Banesco informed me that Panama can open the account with $ 500 ( Banesco USA requires $ 5,000 to open the account ) with a bank transfer , then may deposit your check. Not only can you open the account by depositing the check. You can also contact the Commercial Bank which has a bank in USA called the Mercantile Commerce Bank to inform them of your requirements to open a dollar account in the Mercantile Commerce Bank .

It is important to contact Gilardi &amp; Co. in writing with any special requests such as change of address, phone , and if required to issue the check on behalf of one of the account holders or the trust.

Friday, 6 September 2013

Shown here in 2002, former SEC enforcement official Spencer Barasch has been reinstated to practice law before the Security and Exchange Commission, about one year after he was suspended. Government officials say he helped steer investigators the other way when convicted schemer R. Allen Stanford was defrauding investors of $7 billion.

The Dallas lawyer accused by the U.S. Department of Justice’s inspector general of single-handedly using his position at the Securities and Exchange Commission to let R. Allen Stanford get away with defrauding investors of $7 billion is free to practice law again before the SEC.

Spencer Barasch worked 17 years for the SEC, including seven years as its chief of enforcement at the division office located in Fort Worth. After he resigned in 2005, he began representing Stanford before the SEC.

The inspector general’s report concluded that over the years as enforcement chief he had repeatedly denied federal investigators’ pleas to investigate suspicious aspects of Stanford’s offshore investment accounts, which later were determined to have been frauds.

Barasch denied wrongdoing at the time. He paid $50,000 to the Department of Justice to settle civil claims alleging impropriety.

Stanford was indicted in 2009 and convicted last year. He is serving a 110-year sentence in federal prison.

Last year, the SEC suspended Barasch from practicing before the commission, and said he could apply for readmission in one year. Barasch’s attorney released a statement at the time saying that Barasch had accepted the suspension to save on legal bills.

Barasch was head of enforcement for the SEC’s Fort Worth office from 1998 to April 2005. After leaving the government, he represented Stanford before the SEC in 2006.

A 2010 article in The Dallas Mornings News about the inspector general’s report included this anecdote:

In 2005, the report said, an SEC staff attorney presented the agency’s latest findings at a regional meeting of securities law enforcers attended by Barasch. The audit showed growing concern that the alleged Ponzi scheme was growing and putting billions of dollars at risk.During the presentation, Barasch was said to look “annoyed.” Afterward, he reportedly told the attorney he had “no interest” in bringing action against Stanford.“I thought I’d turned in a good piece of work and was talking about it to significant players in the regulatory community,” Victoria Prescott, the attorney, said in the report. “And I no sooner sit down, shut up and the meeting ended, but then I got pulled aside and was told this has already been looked at and we’re not going to do it.”

Some former colleagues defended him, however, with one telling The News that, at worst, he had used bad judgment.

Tuesday, 3 September 2013

Joint Liquidators Finalizing Claims Process to Make Distribution to Creditor-Victims

Distribution in the 1% range to be completed before year-end

Antigua, September 3, 2013 – Joint Liquidators Marcus Wide and Hugh Dickson of Grant Thornton have funds to distribute and plan to do so by year’s end. The Liquidators are processing the large number of U.S. claims submitted to the claims process as a result of the Joint Settlement Agreement and Cross-Border Protocol for Stanford International Bank. Once the process is completed, the distribution process will begin and is expected to last a couple of months. The goal is to have the funds distributed by the end of the year.

“This has been a long and arduous process and we are pleased to fulfil our objective to bring some resolution by distributing funds to the Creditor-Victims,” said Wide.
Further information on the status of the Joint Liquidators’ efforts and process will be posted on the Joint Liquidators’ official website at www.sibliquidation.com.